How long is the entire process of buying a home?
There is no exact time frame on how long it takes to purchase a new home, although there are approximates. If you are buying a new-build that is still in the constructions stages then expect things to take a lot longer. If you are purchasing a home that is already built and lived in it should take roughly 30-60 days before you can move in once the purchase contract has been signed. Still, it is possible to set the date sooner if the buyer agrees. This is because there are a few steps involved before you can actually move in.
The first step after making an offer is the home inspection. Some people make the offer conditional on the outcome of the inspection, as it could reveal that there are major problems and repairs that need to be done. If everything is okay, then the deal will be finalised once your mortgage goes through. You will also want to meet with your lawyer to finalise the details and make sure that you’re happy with the final contract.
Finally, you will need to make a few moving preparations, like setting up utilities, internet and cable, and arrange to have your mail forwarded. If you are renting, you will have to give your landlord 60 days’ notice. Don’t forget to also notify your bank, credit card companies and any other financial accounts you may have. Start getting quotes from different moving companies and book one as soon as you can so that you are ready on the big day. On the day that you get possession of your new home your lawyer will complete all of the paperwork, final payments will be made and the deed of the home will be yours!
Mark has been dedicated to finding the right home for his clients for over 30 years. Take advantage of his wealth of experience! Learn more.